Stratos Wealth Partners LTD. lessened its stake in AT&T Inc. (NYSE:T - Free Report) by 7.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 221,314 shares of the technology company's stock after selling 19,078 shares during the quarter. Stratos Wealth Partners LTD.'s holdings in AT&T were worth $6,259,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the stock. Keystone Financial Group increased its holdings in AT&T by 196.3% during the 4th quarter. Keystone Financial Group now owns 216,980 shares of the technology company's stock valued at $5,322,000 after acquiring an additional 143,744 shares in the last quarter. Capstone Wealth Management LLC acquired a new stake in shares of AT&T during the 1st quarter worth about $201,000. World Investment Advisors boosted its stake in shares of AT&T by 36.4% during the 4th quarter. World Investment Advisors now owns 237,477 shares of the technology company's stock worth $5,407,000 after purchasing an additional 63,359 shares during the last quarter. DigitalBridge Group Inc. boosted its stake in shares of AT&T by 14.6% during the 4th quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company's stock worth $65,255,000 after purchasing an additional 365,776 shares during the last quarter. Finally, Huber Capital Management LLC boosted its stake in shares of AT&T by 2.7% during the 4th quarter. Huber Capital Management LLC now owns 577,985 shares of the technology company's stock worth $13,161,000 after purchasing an additional 15,000 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.
AT&T Trading Down 0.6%
T stock traded down $0.18 during midday trading on Wednesday, reaching $28.11. 34,408,206 shares of the company's stock traded hands, compared to its average volume of 36,439,417. The company has a market capitalization of $202.27 billion, a P/E ratio of 17.25, a PEG ratio of 4.67 and a beta of 0.42. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65. AT&T Inc. has a fifty-two week low of $18.14 and a fifty-two week high of $29.19. The business has a 50-day moving average price of $27.83 and a two-hundred day moving average price of $26.23.
AT&T (NYSE:T - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). AT&T had a return on equity of 13.63% and a net margin of 9.64%. The firm had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. During the same period in the previous year, the firm posted $0.55 earnings per share. The company's revenue for the quarter was up 2.0% on a year-over-year basis. Equities research analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.
AT&T Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.95%. AT&T's payout ratio is currently 68.10%.
Analyst Upgrades and Downgrades
Several research firms have issued reports on T. Scotiabank reaffirmed an "outperform" rating on shares of AT&T in a research note on Thursday, April 24th. Wells Fargo & Company raised their price target on shares of AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Wall Street Zen raised shares of AT&T from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. TD Securities raised their price target on shares of AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a research note on Thursday, April 24th. Finally, Oppenheimer raised their price target on shares of AT&T from $27.00 to $32.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, AT&T presently has a consensus rating of "Moderate Buy" and an average target price of $29.05.
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About AT&T
(
Free Report)
AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.
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